A new business group has been given the go ahead by the Government after a successful bid last week.

The Greater Cambridge and Peterborough Local Enterprise Partnership, or LEP, is a partnership of local business leaders and council chiefs that aims to tackle issues preventing business development in Cambridge and Peterborough, as well as create new jobs, improve the local economy and help secure future investment within the region.

Replacing the former East of England Development Agency, the LEP has outlined it aims to create 160,000 news jobs by 2025, as well as increasing the number of 'significant businesses' within the region to 100,000.

John Bridge (pictured), chairman of the new LEP, explained: “This is clearly a very positive step as we collectively strive towards growth for our economic area."

“The publication of the White Paper will hopefully mean that we are in a position to truly drive our vision forward, and for local authorities, higher education and businesses to continue to work together to maximise the opportunities that this partnership will bring.”

Councillor Jill Tuck, leader of Cambridgeshire County Council, outlined the benefits local businesses could expect to enjoy: “This is good news for the people of Cambridgeshire. One of our main priorities is to ensure the continued prosperity of our communities. This new Local Enterprise Partnership will help support the growth of small and large businesses as well as the creation of new companies."

“It will also help bring jobs and funding to Cambridgeshire, as well as the chance to provide much-needed infrastructure and facilities for residents.”

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